Vnsteel Thang Long's Q1 revenue up 10.3% y-o-y

The Vnsteel Thang Long Coated Sheets Joint Stock Company earned total revenue in the first quarter of this year of more than VND307.4 billion ($13.5 million) from selling products and providing services, a year-on-year increase of 10.3 per cent, a source from the company told VET.

In the seven years since its founding in 2010, the company has strived ceaselessly and overcome all difficulties to further increase its competitive capacity in the domestic market by improving the quality of its products and services under the brand names “Ton Thang Long” (Thang Long coasted sheets) and “Ton Viet - Y” (Vietnam - Italy coated sheets).

The company has made continuous efforts to innovate technology by importing modern production lines from Germany and Italy. Its products meet Japanese, US and European standards. Thanks to the strict application of the ISO 9001:2008 quality management system and the ISO 14001:2004 environmental management system, the company’s products have met demand in the market in terms of product quality and environmental protection.

Vnsteel Thang Long has implemented a plan to upgrade its production line of color coated sheets from 50,000 tons to 70,000 tons per year and that of galvanized steel from 80,000 tons to 100,000 tons per year.

Output has increased six to seven-fold compared to when it became operational seven years ago. In 2016, the company surpassed its design capacity and had market coverage in 45 of Vietnam’s cities and provinces. It became much more profitable, with sales volumes reaching more than 70,000 tons and net revenue reaching VND1.199 trillion ($88.1 million). For the first time, its dividend paid to shareholders increased 10 per cent year-on-year.

Along with its efforts to boost production and improve its business, Vnsteel Thang Long has also actively participated in community activities, joining blood donation programs, supporting Agent Orange victims, and contributing to child protection funds, etc.

It was honored last year with such titles as “Vietnam Value 2016” and “Strong Brand 2016”, among others. It was also ranked 59th in Vietnam’s Best Prospect 500.

Most recently, Vnsteel Thang Long was listed in the Top 500 Best Prosperity (BP500) Companies 2017.